PodcastsThe Property Couch462 | Top 5 Reasons You Have NOT Become A Successful Property Investor Yet!

462 | Top 5 Reasons You Have NOT Become A Successful Property Investor Yet!
The Property CouchWed Sep 27 2023
Busy season:
- Busy season is the best time to start taking action
- People who are busy find a way to make things happen
- The idea that there will be a time when you're not busy is a fallacy
- Micro level of time refers to not having enough time in the day, but people can allocate their time differently
- When then fallacy is flawed logic because it delays taking action
Value of money:
- Paying money for advice or help is good because it shows commitment and motivation
- It helps lower the barrier for action and provides accountability
- The cost of getting advice or help may seem high, but it's actually an investment in your future
- Money is valuable because it allows you to achieve your goals and make progress towards financial freedom
Changing identity:
- Taking on a new identity and new priorities is necessary for success
- Changing to change is important, as staying the same won't lead to progress
- Pain of change must be greater than pain of staying the same to motivate action
Authority and responsibility:
- Deferring power to others is often just in our minds, not reality
- Isolate and collapse the foil by identifying who has authority over us and questioning why we defer power to them
- Focus on personal responsibility rather than blaming others for our lack of action
Avoidance of decision making:
- The importance of having uniformity and alignment in goals and beliefs to increase the likelihood of success
- The need to challenge oneself and take action to have a more meaningful life
- The significance of having support discussions rather than permission discussions with significant others
- The potential for resentment to build if decisions are deferred or not communicated effectively
Taking action:
- The misconception that more time is needed when what is actually required is more information
- The value of being directionally correct rather than aiming for perfection in decision-making
- Overcoming the fear of short-term discomfort by focusing on long-term achievement
- Embracing accountability as the primary factor for success, rather than knowledge alone
Parenting hack time in the dark with tweens:
- Spending quality time with tweens by turning off lights and lying down together before bedtime to encourage open conversation
Property news investor sentiment survey results:
- 56% believe now is a good time to invest, while 24% disagree and 20% are unsure
- 94% prefer investing in established properties over vacant land or brand new/off-the-plan properties
Victoria rental and affordability crisis inquiry:
- Efforts made to ensure representation from property investors at public hearings addressing rental issues
- Focus on providing feedback regarding why Victoria's property market is failing investors